IRDAI Chairman Says Bima Sugam to Roll Out Motor, Health and Term Products by September

India's insurance regulator has signalled that Bima Sugam, its one-stop digital insurance marketplace, is moving toward broader consumer use. IRDAI Chairman Ajay Seth said the platform will roll out initial motor, health and term insurance products by the end of September as insurers finish integrating their technology systems with it. Bima Sugam is designed as a single online portal where policyholders, insurers, intermediaries and agents can compare, buy, manage and eventually renew policies and settle claims across life, health, motor and other lines. The initiative is a central pillar of the regulator's broader push to widen insurance access under its 'Insurance for All by 2047' vision, alongside reforms such as allowing full foreign ownership of insurers and easing product-approval rules. By standardising and digitising distribution, the platform aims to lower costs, improve transparency and expand penetration, particularly in underserved markets. The phased approach reflects the complexity of connecting numerous insurers and intermediaries to a common infrastructure, and the coming months will test how smoothly the marketplace can scale from a limited launch to full transaction capabilities across product categories.